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While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes.
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“VPNs can be a security bottleneck,” she says. “All of your traffic goes through it, and you have to trust them as if they are your new ISP. Because the backbone of our software is a decentralized network, you don’t have to trust us to browse the internet privately.”
Institutional shareholders own 76% of the company and they are: Capital World Investors with 43,810,162 shares, Evercore Trust Company, N.A. with 43,049,097 shares, Vanguard Group, Inc. with 38,799,156 shares, Blackrock , Wells Fargo , UBS, Bank of America, Morgan Stanley, Goldman Sachs, Deutsche Bank, etc.
That’s what makes these so dangerous… once you get a victim on the line, and you get access to their bank account, you just start sucking the money right out. DUCK. Once someone genuinely believes that they *are* talking to the bank, and they’ve got a call centre person who’s “really” (apparently!)
Therefore the escrow has no reason to cheat because it makes money in either case, and if it cheats a customer or a hitman then the word spreads out and no one else will trust the escrow to do other transactions, causing the escrow to make no money. Is therefore much safer and better for the escrow to earn a small commission out of millions of transactions, than to scam customers.
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